https://www.taxtmi.com/caselaws?id=399217 The Tribunal dismissed the department's appeal, affirming the CIT (A)'s deletion of the addition of Rs. 3,12,42,835/- for alleged bogus purchases. The decision was based on the assessee's documentary evidence, the uncontroverted retraction by Shri Sanjay Chaudhary, and the absence of contrary evidence from the department. The Tribunal also referenced similar cases where transactions were deemed genuine, further supporting the assessee's position. The Revenue's failure to rebut these findings with substantial evidence led to the conclusion that the transactions were legitimate, thereby upholding the CIT (A)'s order and rejecting the department's contentions. en-us Wed, 30 Sep 2020 00:00:00 +0530 Tue, 05 Nov 2024 12:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399217 The Tribunal dismissed the department's appeal, affirming the CIT (A)'s deletion of the addition of Rs. 3,12,42,835/- for alleged bogus purchases. The decision was based on the assessee's documentary evidence, the uncontroverted retraction by Shri Sanjay Chaudhary, and the absence of contrary evidence from the department. The Tribunal also referenced similar cases where transactions were deemed genuine, further supporting the assessee's position. The Revenue's failure to rebut these findings with substantial evidence led to the conclusion that the transactions were legitimate, thereby upholding the CIT (A)'s order and rejecting the department's contentions. Case-Laws Income Tax Wed, 30 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399217